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Mustard seed prices rise for second straight session

6 Oct 2022 1:47 pm
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Jaipur, October 6 (Commoditiescontrol) Mustard seed prices rose for the second straight session on Thursday on increased demand for edible oil in the domestic market ahead of Diwali festivals. Simultaneously, firm cues from global edible oil markets supported bullish trend in domestic edible oil market today.

Prices of mustard seed with 42% conditioned rose Rs 25 to trade at Rs 6250-6275 per quintal (excluding GST) in the benchmark market of Jaipur.

Mustard oil expeller prices gained Rs 4 to trade at Rs 1254-1255 per 10kg and Kachchi Ghani was also offered Re 4 higher at Rs 1264-1265 per 10kg.

Mustard cake prices were quoted Rs 5 higher at Rs 2400-2405 per quintal.

Arrivals of mustard seed were estimated 95000 bags in Rajasthan, 25000 bags in Madhya Pradesh, 35,000 bags in Uttar Pradesh, 15,000 bags in Haryana and Punjab, 10,000 bags in Gujarat, and 45,000 bags in other markets. Total arrivals across the country were around 2.55 lakh bags of 80 kg each, up 80,000 bags from last session.

Malaysian palm oil futures gained over 2.5 percent during the first session of trade on Thursday, extending upside for the 6th consecutive day, underpinned by a rally in CBOT soyoil and crude oil prices.

Expectations of a drop in Southeast Asian palm oil production from November to February due to potential La Nina weather disruptions also supported the contract.

The benchmark December palm oil on the Bursa Malaysia Derivatives Exchange was up 93 ringgit or 2.55 % at 3,735 ringgit ($807.04) a tonne by the midday break, after moving in the range of 3,806 and 3,620 ringgit a tonne.

(By Commodities control Bureau; +91 9820130172)

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